Meaning of Set off and carry forward of losses

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Republished with Amendmentsup to Budget 2018 As per Income Tax Act 1961, a Person as defined in Section 2(31) can set off and Carry forward the losses incurred. It is a big boon to a Person, because it plays an important role on the financial condition of a Person who has incurred such Losses. So
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KAVITHA M S

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